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(1)In the application of this Chapter to foreign policies of life insurance and foreign capital redemption policies, certain special rules apply.
(2)See, in particular—
section 474(3) to (5) (certain foreign policies treated as not being qualifying policies), [F1 and]
F2...
sections 531 to 534 (under which foreign policies are excepted from section 530 (income tax treated as paid etc.) subject to certain reliefs), F3...
F4...
(3)In this Chapter—
“foreign policy of life insurance” means—
a policy of life insurance issued by a non-UK resident company, and
a policy of life insurance which forms part of the overseas life assurance business of an insurance company or friendly society F5...,
“foreign capital redemption policy” means—
a capital redemption policy issued by a non-UK resident company, and
a capital redemption policy which forms part of the overseas life assurance business of an insurance company F6..., and
“overseas life assurance business” has the [F7 meaning given by section 61 of FA 2012].
Textual Amendments
F1Word in s. 476(2) inserted (with effect in accordance with Sch. 8 para. 7 of the amending Act) by Finance Act 2013 (c. 29), Sch. 8 para. 2(a)
F2Words in s. 476(2) omitted (with effect in accordance with Sch. 8 para. 7 of the amending Act) by virtue of Finance Act 2013 (c. 29), Sch. 8 para. 2(b)
F3Word in s. 476(2) omitted (with effect in accordance with Sch. 8 para. 7 of the amending Act) by virtue of Finance Act 2013 (c. 29), Sch. 8 para. 2(c)
F4Words in s. 476(2) omitted (with effect in accordance with Sch. 8 para. 7 of the amending Act) by virtue of Finance Act 2013 (c. 29), Sch. 8 para. 2(d)
F5Words in s. 476(3) omitted (with effect in accordance with Sch. 17 para. 27(3) of the amending Act) by virtue of Finance Act 2008 (c. 9), Sch. 17 para. 27(1)(a)
F6Words in s. 476(3) omitted (with effect in accordance with Sch. 17 para. 27(3) of the amending Act) by virtue of Finance Act 2008 (c. 9), Sch. 17 para. 27(1)(b)
F7Words in s. 476(3) substituted (17.7.2012) by Finance Act 2012 (c. 14), Sch. 16 para. 128
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